Want to make a lot of money? Go to these schools...
A lot of ND grads who have not remained in close contact are unaware that our amount of scholarship funds is now so great that our students graduate with a very manageable amount of debt. In addition, because our grads earn top dollars and have been taught traditional values, nobody repays their student loans at the rate that ND grads do.
As many students and families zero in on their college decisions this week, they may want to do some research beyond the typical school rankings.
That’s the argument of a new report from the Brookings Institution, aptly titled “Beyond College Rankings,” which looks at factors like alumni salaries, federal student loan repayment rates and student characteristics, to determine the schools that most affect their graduates’ level of economic success.
Many of the usual suspects such as Harvard, Princeton and Yale don’t make the top of Brookings’ rankings. The Brookings model compares graduates’ actual outcomes after college versus their predicted outcomes when they came in as undergraduates. That means it doesn’t reward extremely selective schools or those that admit students with the highest likelihood of success.
Instead, it focuses on how attending a given school will boost a student’s chance of making more money.
“The Ivy League does very well by their students and the students come out earning fantastically high salaries,” said Jonathan Rothwell, a fellow in Brookings’ Metropolitan Policy Program and a co-author of the report. “At the same time, they come in with extremely high test scores from extremely affluent families. So you’d expect them to do well.”
The Brookings model offers a way for prospective students to learn more about community colleges and non-selective four-year schools, which educate a large share of students but aren’t typically ranked. And it comes at a time when policymakers are looking for ways to insert more transparency into the college process. The Obama Administration is in the midst of launching a new college ratings system that evaluates schools on graduates’ ability to get jobs and repay their loans.
The Brookings Institution
The four-year schools that add the most value to their students’ abilities to repay their student loans, according to Brookings.
Students from these schools likely graduate with relatively good job prospects as indicated by the fact that they are able to make payments on their loans within the first few years of graduating.